I have a Sun Chassis 6000 (ILOM v3.0.12.11.a ) that contains blades type : SUN BLADE X6220 SERVER MODULE (ILOM v3.0.3.34 ), I found chassis fault LED is ON ,and from the logs is shows me the below:

Fault detected at time = Wed Sep 26 12:29:12 2012. The suspect component: /CH/BL0 has fault.chassis.device.fail with probability=100. Refer to http://www.sun.com/msg/SPX86-8000-1D for details.

the BL0 is working fine and can not find any error on the blade ILOM logs, when I try to clear the alarm from the Chassis ILOM (from CMM->Component Status) , the system status becomes "OK" for one second and then it returns to "Faulty", I tried to clear the fault many times but this couldn't clear the fault.

I think this is a software bug and I tried to look for this issue in the newer versions release notes but I couldn't find this specific issue, do you think that restarting the Chassis can resolve the issue ?

For a complete diagnosis you should always open an SR , what i can tell you from that error, it could be a BUG , but to check if its really one we wil lneed the snapshot or the IPMI output from the chassis and the blade
to discard Hardware issues.

The blade FW is up to date, but the chassis is not, try updateing to latest , clear logs, reset CMM and check if the alarm goes off